A slow down? After four days of going up, the Nikkei is flat today, hovering around 27,500.

After ending yesterday at 27,517, the Nikkei traded in a 27,400 – 27,618 range before settling at 27,500.

The Nikkei's state is reflected by market data as Japan 10-Year JGB Auction released today at 03:35 UTC with a figure of 0.5, while the previous figure was 0.485. Japan Capital Spending (YoY) (Q4) came out at 7.7, while a consensus of analysts was expecting 6.9.

Nikkei made an initial break below its 21 day Simple Moving Average at 27,500, a possible indication of a forthcoming negative trend. The Nikkei's upper Bollinger Band® is at 27,818, suggesting that a downward move may follow. Despite this, the Nikkei is approaching key support, around 124.68 points away from 27,371. Dipping below could indicate further losses are ahead while a failure to break below this level is likely to be seen positively by market bulls.

Despite the market lacking direction, technical chart analysis strongly suggests the Nikkei is positioned for a downward move in the near term.

While the Nikkei is pretty flat so far today, mixed performances are seen elsewhere as KOSPI Composite Index goes up 0.87% to trade around 2,434. Having closed the previous session at 7,876.28, FTSE is up 0.49% today to currently trade at around 7,915. Nasdaq is down to 11,379, losing 76.06 points, after closing at 11,456 in the preceding trading session.

Data to be released later is expected to clarify investor sentiment while boosting price action volatility as Japan Tokyo Core CPI (YoY) (Feb) is scheduled for today at 23:30 UTC. Japan Jobs/applications ratio (Jan) is expected today at 23:30 UTC. Japan CFTC JPY speculative net positions scheduled to come out tomorrow at 20:30 UTC.

Trading mostly sideways for a month. After hitting an important low of 15.42 approximately 5 months ago, the Nikkei has bounced back 178,347% since.